4:25 PM
Aug 08, 2018
 |  BC Extra  |  Company News

Sarepta bolsters gene therapy pipeline through deal with Lacerta

Sarepta Therapeutics Inc. (NASDAQ:SRPT) gained exclusive rights to an undisclosed preclinical gene therapy to treat Pompe disease from Lacerta Therapeutics Inc. (Alachua, Fla.), as well as options to two additional CNS gene therapy candidates.

Lacerta will receive $8 million up front and a $30 million equity investment from Sarepta. The company will also be eligible for development and sales milestones, plus single-digit royalties.

Lacerta will be responsible for preclinical development of the candidates. Sarepta will lead clinical development and commercialization.

Through the partnership, Sarepta said it will also gain access to Lacerta's capsid screening method and OneBac adeno-associated virus (AAV) vector manufacturing platform.

Sarepta said the deal with Lacerta brings its gene therapy pipeline to 11 programs. Sarepta is developing several gene therapies to treat Duchenne muscular dystrophy, including AAVrh74.MHCK7.micro-Dystrophin, which posted positive Phase I/IIa data in June (see "Sarepta Hits High on Phase I/IIa DMD Readout").

Lacerta, a spinout from the University of Florida, is using a suite of AAV technologies to develop therapeutics for CNS and lysosomal storage disorders.

Sarepta also reported its 2Q18 financial results on Wednesday. The company posted a GAAP loss per share of $1.15 on revenues of $73.5 million. The Street was expecting a loss per share of $0.84 and revenues of $71.4 million.

Sarepta slid $0.45 to $121.02 on Wednesday and added $2.99 to $124.01 in after-hours trading when it announced the deal and earnings.

Consensus figures provided by FactSet.

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